other material
confidence high
sentiment neutral
materiality 0.60
SenesTech enters warrant exercise agreements for ~$1.1M gross proceeds and issues new warrants
SenesTech, Inc.
- Existing warrants for 374,718 shares exercised at reduced price of $2.90/share (from $4.35); gross proceeds $1,086,682.
- New short-term warrants issued to purchase up to 1,498,872 shares at $2.90, exercisable after stockholder approval, 18-month term.
- Placement agent H.C. Wainwright gets 7.5% cash fee plus 5% warrant coverage (18,736 shares at $3.625).
- Net proceeds for working capital and general corporate purposes.
- Stockholder approval required for new warrant exercise; resale registration to be filed thereafter.